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  • Obama - broken promises

    It is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
    Peace, Love, and Local Grindz

    People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow

  • #2
    Re: Obama - broken promises

    I dislike broken promises, but I also think that now is not the best time to raise anybody's taxes. Even, and including, those who's taxable earnings are $250K or better. Especially considering the investments' losses that many people have had to endure because of our crummy economy.
    ~ This is the strangest life I've ever known ~

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    • #3
      Here's this...

      www.reuters.com/article/vcCandidateFeed2/idUSTRE4B206W20081203

      But I'm still not happy.
      https://www.facebook.com/Bobby-Ingan...5875444640256/

      Comment


      • #4
        Re: Obama - broken promises

        Originally posted by matapule View Post
        It is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
        As Nader said, will he be "Uncle Sam or Uncle Tom". Looks like he's starting to understand how stuff works up there. He had dare not raise the working man's taxes - under 100k that is.

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        • #5
          Re: Obama - broken promises

          Originally posted by matapule View Post
          It is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
          *chuckles*..........................why the long face matapule?
          stay forever young

          Comment


          • #6
            Re: Obama - broken promises

            Originally posted by matapule View Post
            It is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
            You need to pay attention to what's been going on economically. When Obama was talking about imposing the windfall profit tax, that was when the price of crude oil was on the increase, eventually peaking at $147 per barrel. Last time I checked, it had dropped to $47.

            Yes, I know the "big, bad" oil companies were making record profits this past year. But with the world economy already mired in a recession, even the petroleum firms cannot escape the effects of deflation. Obama and his economic advisors are smart enough to anticipate and look at the conditions ahead.
            This post may contain an opinion that may conflict with your opinion. Do not take it personal. Polite discussion of difference of opinion is welcome.

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            • #7
              Re: Obama - broken promises (or not?)

              Oil prices have dropped 66% in the past few months, from over $150 per barrel to under $50 per barrel, and we've all seen the drastic price drops at our gas stations. So perhaps Obama's mere announcement of the plan to put in that windfall profits tax is part of what caused the oil prices to drop?
              I think calling this a broken promise may be premature evaculation.

              EDIT: See what Frankie wrote one minute before my post here. Well done, FM!
              .
              .

              That's my story, and I'm sticking to it.

              Comment


              • #8
                Re: Obama - broken promises (or not?)

                Originally posted by LikaNui View Post
                /snip
                I think calling this a broken promise may be premature evaculation.
                /snip
                Isn't there a pill for this?

                In my years of watching politics, I haven't ever seen one politician keep to ALL promises that were made on the campaign trail. He/she can say one thing and with forces out of their control has to change it.

                It is politics as usual as it seems now but everything still remains to be seen....

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                • #9
                  Re: Obama - broken promises

                  When there aren't windfall profits, it's hard to institute a windfall profits tax. Unless people want it applied retroactively? I don't see this as a broken campaign promise. However, if the oil companies start gouging again -- as they were urged to do under the Bush administration -- the pressure will be back on Obama to live up to that promise.
                  Burl Burlingame
                  "Art is never finished, only abandoned." -- Leonardo Da Vinci
                  honoluluagonizer.com

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                  • #10
                    Re: Obama - broken promises

                    I miss ol' bammy once again
                    and I think it's a sin.
                    Berber, duna,-da, berber, duna,-da, berber,,, budalidadudalida

                    ah you know the rest.

                    Just keep pressin' ol' Bammy to pound the solar panels and the windmills. Tax breaks for big business, small business, houses, condos, grass huts, gopher holes. Just plaster it with panels. And give the silicone/panel makin guys lots of tax breaks too.

                    Full blown, dollar for dollar, with contractor bonuses to make damn certain they put it on every house. And architect bonuses, so they draw it on every plan. And automaker bonuses for every car that works on electricity.

                    I mean just really start to blow it out of the park, crazy style. Money talks.

                    Screw big business cuz u know they gonna pitch a bitch.

                    And after 8 years, start a punishment program that includes tax increases, assessment increases, and other punative administrative costs...for everybody...even joe homeowner who ain't gettin on the program.

                    For America, Ol' Bammy could do what Ike did. 50's = transportation. Today = power.

                    That legacy would last 60+ years, just like Ike's roads.
                    Last edited by timkona; December 3, 2008, 09:27 PM.
                    FutureNewsNetwork.com
                    Energy answers are already here.

                    Comment


                    • #11
                      Re: Obama - broken promises

                      Originally posted by Frankie's Market View Post
                      You need to pay attention to what's been going on economically. When Obama was talking about imposing the windfall profit tax, that was when the price of crude oil was on the increase, eventually peaking at $147 per barrel. Last time I checked, it had dropped to $47.
                      I was waiting for this response! Thank you FM!

                      Despite what the price of oil is or was, Obama could still enact a windfall profits tax that would go into effect when oil climbs back to a certain level. That is called being proactive and sends a strong message to the economy. How do I know that he won't do that iin the future? Because the proposal has been quietly dropped from his economic program without any public announcement. He and his staff know that he is renegging on a key piece of his platform.

                      This is going to be interesting.
                      Peace, Love, and Local Grindz

                      People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow

                      Comment


                      • #12
                        Re: Obama - broken promises

                        Originally posted by matapule View Post
                        Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
                        Oh Pleeease....... Did you honestly think he was going to change things - even before he gets into office? It didn't matter who was elected. While I believe he was the much better choice for a figurehead, we have to remember that is all he is. The explanation is......... those in charge won't let him do that. No matter what the issue at hand is. Unless of course, it suits their needs.

                        Yes, I truely believe you voted for politics as usual. And that would apply if you had voted the other way as well.

                        Comment


                        • #13
                          Re: Obama - broken promises

                          Originally posted by LikaNui View Post
                          So perhaps Obama's mere announcement of the plan to put in that windfall profits tax is part of what caused the oil prices to drop?
                          No, the the price of crude has dropped. It had nothing to do with Obama's proposal. Do you really think that some sheik, somewhere in the Middle East is affected by Obama's windfall profits tax, when that sheik or OPEC sets the price for a barrel of crude?

                          Originally posted by buzz1941 View Post
                          When there aren't windfall profits, it's hard to institute a windfall profits tax. Unless people want it applied retroactively.
                          Perhaps a short economics lesson is needed here. The price of a barrel of crude oil charged by an oil producing nation has nothing to do with the amount of profit a US oil processing company makes after refining and delivery to the end consumer (that means the gas pump). Perhaps Buzz knows something that oil industry analysts don't know when he says there are no windfall profits since quarterly reports aren't out yet. We have yet to determine if the oil comapnies are making windfall profits after the price drop in crude.

                          Yes, a windfall profits tax can be applied retroactively for the current fiiscal year. It's done all the time, even to taxpayers like you and I. And yes, you can enact a windfall profits tax even if there is no windfall profits at this time. It would apply to any windfall profits in the future. That type of legislation sends a very strong message.

                          If Obama made an error with regards to his idea for a windfall profits tax on oil, then he should come out publicly and admit his error. Why drop it from the platform with no public announcement? It just smells really bad, like rotten fish. I expected more from him.
                          Peace, Love, and Local Grindz

                          People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow

                          Comment


                          • #14
                            Re: Obama - broken promises

                            Originally posted by acousticlady View Post
                            Oh Pleeease....... Did you honestly think he was going to change things - even before he gets into office?
                            Honestly, yes. I expected him to fulfill his promises or explain to the public why it is necessary to change his strategy.

                            It didn't matter who was elected.
                            It really mattered that the nation elected Bush for 8 years.

                            The explanation is......... those in charge won't let him do that.
                            That premise is not substantiated by a history of Presidential leadership. And BTW, who do you think IS in charge?

                            Yes, I truely believe you voted for politics as usual. And that would apply if you had voted the other way as well.
                            Aha! another cynic! Yes, I am an idealist and naive to boot, I admit it. But I have the perspective of more years as a naive idealist than probably anyone else on HT.

                            I think I'll go take a walk on the beach and ponder whether "is that all there is?" (thanks Peggy Lee)
                            Peace, Love, and Local Grindz

                            People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow

                            Comment


                            • #15
                              Re: Obama - broken promises

                              Originally posted by matapule View Post
                              That premise is not substantiated by a history of Presidential leadership. And BTW, who do you think IS in charge?
                              I would contest that the premise isn’t substantiated by the history of Presidential leadership. And while I can’t speak for acousticlady, I can tell you who is in charge. They are (in random order): the Council on Foreign Relations (CFR), the Bilderberg Group, the Security and Prosperity Partnership of North America (SPP), the Trilateral Commission and the military-industrial complex. Much more information can be found here.

                              We can’t be so fixated on our desire to preserve the rights of ordinary Americans.

                              — U.S. President Bill Clinton
                              USA TODAY, page 2A
                              11 March 1993

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